Adani Group of companies to invest Rs 12,400 crore in Telangana; signs MoUs with Govt of Telangana – EQ
In Short : The Adani Group has signed Memorandums of Understanding (MoUs) with the Government of Telangana, committing to invest Rs 12,400 crore in the state. This significant investment reflects Adani’s strategic expansion and contribution to economic development, likely involving various sectors, including infrastructure and renewable energy.
In Detail : The group signed four memorandums of understanding (MoUs) for the investments at the World Economic Forum in Davos in presence of Telangana Chief Minister Revanth Reddy and Adani Group chairman Gautam Adani.
Adani Group on Wednesday said it will invest over Rs 12,400 crore in an array of projects including a data centre, clean energy project, and a cement plant in Telangana.
The group signed four memorandums of understanding (MoUs) for the investments at the World Economic Forum in Davos in presence of Telangana Chief Minister Revanth Reddy and Adani Group chairman Gautam Adani.
The conglomerate’s flagship firm Adani Enterprises will invest Rs 5,000 crore in setting up a 100 MW data centre that will use green energy while its renewable energy unit Adani Green Energy Ltd will spend an equivalent amount in setting up two pump storage projects.
The conglomerate’s Ambuja Cements will put in Rs 1,400 crore to build 6 million tonne a year (MTPA) cement plant and Adani Defence and Aerospace will invest another Rs 1,000 crore to set up counter drone and missile facilities.
“The Adani portfolio of companies, one of the world’s largest infrastructure conglomerates, and the Government of Telangana signed four MoUs for investment of over Rs 12,400 crore, at the World Economic Forum 2024,” it said in a statement.
“These MoUs will help build the foundations for economic growth of Telangana that is green, sustainable, inclusive, and transformative.” Adani Enterprises Ltd (AEL) will set up a 100 MW data centre, which would be powered by renewable energy, over the coming 5-7 years. It will work closely with local MSMEs and startups to develop a globally competent supplier base for the project, which will provide employment, both direct and indirect, to 600 people.
Adani Green Energy Ltd (AGEL) will set up two pump storage projects (PSPs) – 850 MW at Koyabestagudem and 500 MW at Nacharam.
Ambuja Cements will set up a 6 MTPA capacity cement plant across 70 acres in the next five years.
This would significantly enhance Ambuja’s capability and provide employment for over 4,000 people, both directly and indirectly.
“Adani Defence Systems and Technologies will invest over Rs 1,000 crore in 10 years to set up a comprehensive ecosystem for the research, development, design, manufacturing and integration of counter drone and missile systems at the Adani Aerospace Park.
The ecosystem developed through these projects would significantly enhance the defence capability of India and would provide employment to over 1,000 people,” the statement added.
Headquartered at Ahmedabad, Adani Group is the largest and fastest-growing portfolio of diversified businesses in India with interests in logistics (seaports, airports, logistics, shipping and rail), resources, power generation and distribution, renewable energy, gas and infrastructure, agro (commodities, edible oil, food products, cold storage and grain silos), real estate, public transport infrastructure, consumer finance and defence, and other sectors.
